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09.11.202014:50 Forex Analysis & Reviews: BREAKING NEWS : Pfizer says its COVID-19 vaccine is over 90% effective

Pfizer Inc. said on Monday that its experimental COVID-19 vaccine was more than 90% effective. It is a major victory in the fight against the coronavirus that has killed more than a million people, battered the world's economy and upended people's daily life. The company reported that no serious safety concerns have been observed.

Pfizer and its German partner BioNTech SE are the first drugmakers to release successful data from a large-scale clinical trial of a coronavirus vaccine. The companies said they have so far found no serious safety concerns and expect to seek US authorization this month for emergency use of the vaccine.

1.3 BILLION DOSES

Pfizer and BioNTech have a $1.95 billion contract with the US government to deliver 100 million vaccine doses beginning this year. They have also reached supply agreements with the European Union, the United Kingdom, Canada, and Japan.

In order to save time, the companies began manufacturing the vaccine before they knew whether it would be effective. They now expect to produce up to 50 million doses, or enough to protect 25 million people this year.

Pfizer said it expects to produce up to 1.3 billion doses of the vaccine in 2021.

The US pharmaceutical giant said the interim analysis was conducted after 94 participants in the trial developed COVID-19, examining how many of them had received the vaccine versus a placebo.

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Jan Novotny,
Analytical expert of InstaSpot
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